Iran, Armenia agree to boost cooperation, power exchange

Business Materials 6 December 2016 12:45 (UTC +04:00)

Baku, Azerbaijan, Dec. 6

By Khalid Kazimov – Trend:

Iran and Armenia have inked a comprehensive document on cooperation in various spheres, including power exchange.

Iranian Energy Minister Hamid Chitchian has said that the sides have agreed to boost the level of existing power exchange between the two countries by four folds, IRNA news agency reported.

The document envisaged cooperation in the spheres of energy including power exchange and natural gas, the environmental issues regarding the Araz River, banking and insurance, as well as creating a special economic and trade zone in Armenia, the minister added.

Chitchian has said that the two countries’ existing capacity for power
exchange currently stands at 300 megawatts.

He added that Iran has invested in a project for creating a new power
transmission line which is projected to increase the capacity to 1,200

According to the minister, the sides have also agreed to cooperate on
developing north-south routes in particular power transmission through
Armenia and Russia as well as road and rail transportation.

Under the terms of the cooperation agreement, Iran is expected to supply gas to two Armenian cities, the Iranian minster added.

The Iranian official further expressed hope that Iran-made wind turbines will soon be installed in Armenia.

Hamid Chitchian has wrapped up his visit to Armenia aimed at discussing the expansion of cooperation between the two countries ahead of Iranian President Hassan Rouhani’s upcoming visit.